💨 Abstract
The US imposed a $500,000 penalty on GlobalFoundries, a New York-based chipmaker, for illegally shipping chips to a Chinese affiliate of blacklisted Chinese chipmaker SMIC. GlobalFoundries sent 74 shipments worth $17.1 million without a license, violating US export regulations. SMIC, the target of US concerns over its ties to the Chinese military-industrial complex, has denied wrongdoing.
Courtesy: theprint.in
Summarized by Einstein Beta 🤖
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